Press release
Artificial Meat Market Set for Steady Growth: Expected to Reach US$ 6.21 Billion by 2030 with a 4.3% CAGR
Artificial Meat Market
The Global Artificial Meat Market, valued at USD 4.38 billion in 2023, is poised to grow at a steady CAGR of 4.3% through 2030. This burgeoning market, driven by technological advancements and evolving consumer preferences, promises a sustainable and innovative approach to meat production.
Understanding Artificial Meat
Artificial meat, also known as cultured or cell-based meat, is crafted from animal cells cultured in a controlled environment, mimicking the taste and texture of traditional meat without the need for animal slaughter. This transformative technology utilizes cellular agriculture techniques akin to those in regenerative medicine, offering a humane, environmentally-friendly alternative to conventional meat production.
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Market Dynamics: Driving Factors and Challenges
Drivers:
Rising Meat Consumption: Growing global meat consumption fuels demand for sustainable protein sources, positioning artificial meat as a viable solution amidst environmental and ethical concerns.
Health and Environmental Benefits: With consumers increasingly prioritizing health and sustainability, artificial meat offers reduced environmental impact and potential health benefits compared to traditional meat products.
Challenges:
Regulatory Hurdles: Stringent regulations surrounding food safety and labeling pose challenges to market expansion, requiring compliance with FDA and USDA standards.
Consumer Acceptance: Adoption hinges on consumer acceptance and affordability, influencing market penetration and growth trajectories.
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Segmentation Insights
By Source:
Poultry: Dominates the market with a 36.1% share in 2023, driven by accessibility, nutritional benefits, and reduced environmental footprint compared to conventional poultry farming.
Pork: Expected to grow at a CAGR of 5.3%, reflecting consumer demand and culinary versatility in global markets, particularly in Europe.
By Application:
Nuggets: Leads the market with a 45.2% share in 2023, favored as convenient snacks in developed regions like the US, UK, and Germany.
Meatballs: Anticipated growth due to versatile culinary applications and rising consumer preference for meat alternatives.
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Regional Insights
North America: Holds a significant market share owing to a robust meat-eating culture, coupled with substantial investments in research and development. The presence of key players and supportive regulatory frameworks fosters market growth.
Europe: Driven by consumer awareness and regulatory initiatives promoting sustainable food practices, with strong growth anticipated in pork and beef segments.
Strategic Insights: Porter's Five Forces and PESTEL Analysis
The report employs Porter's Five Forces model to evaluate market competitiveness, buyer and supplier power, and barriers to entry. PESTEL analysis assesses political, economic, social, technological, environmental, and legal factors impacting market dynamics, guiding strategic decisions for stakeholders.
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Key Players
Higher Steaks (England)
Appleton Meats (Canada)
Fork & Goode (New York)
Biofood Systems LTD (Israel)
Mission Barns (California)
BlueNalu, Inc. (California)
Mutable (U.S)
Seafuture Sustainable Biotech (Canada)
Shiok Meats (Singapore)
Wild Type (U.S)
Lab farm Foods (U.S)
Kiran Meats (India)
Cubiq Foods (Canada)
Cell Farm FOOD Tech (New York)
Mosameat (Netherlands)
Conclusion
The Global Artificial Meat Market presents promising growth opportunities amidst shifting consumer preferences towards sustainable and ethical food choices. Innovations in cellular agriculture and strategic investments by key players underscore the market's evolution. Regulatory compliance, consumer acceptance, and technological advancements will shape the market landscape, driving innovation and market expansion.
For stakeholders and industry enthusiasts seeking comprehensive insights into market trends, competitive strategies, and growth prospects, explore our detailed Artificial Meat Market report here. Join us in shaping a sustainable future of food with innovative solutions and strategic partnerships.
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
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About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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